This project is intended to assess and evaluate your learning in Intermediate Accounting topics for the two semesters. It is a critical financial analysis to disclosure in financial reporting of a public-held corporation and how the accounting concepts and principles are applied. The following instructions will help you in that project:
1. In gaming industry and each student in the group should select a company(what I choose is SONY) in that industry with fiscal year endedDecember 31. Do not select a company in financial services because the disclosures requirements are different and you may face problems in completing the project.
2. It is preferable to write to two companies or send an e-mail requesting the annual reports for the most recent three years (2011-2013), and the 10Qs and 10K for 2012. You can download this information from SEC/EDGER or from the company website if available. Once you receive the reports, consult with the Instructor and your group to select one of them. You should notify the instructor by e-mail about your selection of industry and companies by e-mail. Each group should select one industry. You will be blocked and asked to select another industry if another group notified me first. Deadline for submission will beFebruary 11. Your group will lose one point for each day after that date.
3. Keep the Instructor informed of the progress in obtaining the financial reports.
4. Once all students collect financial reports, we will have detailed discussion for each section in the project.
5. The Paper should be in a typewritten format (Max. 15 pages, 1.5 line space, 12 font size/Times New Roman).
6. Read carefully Ch. 24, Full Disclosure in Financial Reporting, PP. 1486-1554
- The paper should be organized as follow:
• Brief description of the products, industry, market… of the assigned company (Max. one page.)
• Similarities and Differences: Annual Report, Form 10K, and Form 10Q, (Max.2 pages.)
• Direction of the disclosure in the last three years (Max. one page.)
• Techniques of disclosure (Max. 2 pages.)
• Comment on the information contained in the Pro Forma released by the company in January 2014. How did the stock market react to the information released by the company? (Max one page)
• Financial statement analysis for the last three years (Max. 3 pages.)
• A critical discussion of disclosure regarding ten items in the notes to financial statements stating whether the company applied US GAAP or IFRS. (Min 5 pages)
• Conclusion with comment on what you learn from doing the project.
cover page and table of content, subtitle are needed.